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Turkey’s current account gap widens, with no respite in sight for the lira

The Turkish lira is likely to tumble further in the coming months as the country’s current account gap threatens to grow beyond $40 billion by the end of the year.
A picture taken on Aug. 14, 2018, shows the logo of Turkey's Central Bank (TCMB).
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Turkey’s current account deficit widened to $32.4 billion in the first half of the year, Central Bank data showed Thursday, as financing the gap is becoming harder and no respite appears in sight for the battered Turkish lira.

The current account registered a deficit of nearly $3.5 billion in June, bringing the cumulative gap to $32.4 billion in the first six months of the year, according to the data.

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